|ECRS Software Offers IIAS Compliance||| Print ||
A new feature of the ECRS Catapult point-of-sale (POS) system will help pharmacies comply with the IRS ruling that goes into effect Jan. 1, 2009, for flexible-spending accounts and health reimbursement arrangements. The upgraded Catapult software will automatically recognize approved FSA/HRA items imported through a third-party data file and then separate these items at the time of purchase. The cashier handles the transaction as a split tender for any items that fall outside of the approved FSA/HRA inventory list. The system will recognize debit cards that are restricted to medical expenses and maintain a log of all these transactions for a period of five years, which can be readily retrieved through the Catapult database management system.
The IRS will require that pharmacies, in order to accept FSA/HRA debit cards, operate a POS system that supports an inventory information approval system (IIAS).